Technical view by Nooresh

First Leasing and Sicagen India up 15% and now street is buzz with takeover rumours !!

Around 2-3 sessions back when First Leasing was trading at 95-100 and sicagen 25-26 on Friday morning we had posted about the price volumes indicating that the possible takeover news maybe on cards and some insider buying being done.


We had covered the stock in our investment picks for Sicagen at 20-24 zone and First Leasing at 88 purely on the value in the stocks and the possibility of a takeover as indicated in one of the management interviews.


On thursday friday the price-volume and technical breakout confirmed the story which made us add on to more speculative addition in the above stock.


Todays newspapers and business channels are flashing -

Tata Cap to buy 27% stake in First leasing at Rs 175 per share;

board meet today and open offer for 24% to come


Also there is a possibility of other bidders in race for it.


Even in case the deal is fixed at 170 + for 27% stake and another open offer the acceptance ratio will not be very high so possible upsides could be limited to 130-140 and may take some time. So traders can look to book partial profits.


Certain stocks which i am again having a look on researching and would like views from people is – J B Chemicals, Smartlink, Cerebra Int, Tulip Telecom, Shree Rajasthan Syntex, Greenply, BOC India  and so on.

Readers tracking the above stocks may mail me on





Article by Nooresh Merani

Nooresh has written 2531 articles.

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